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Biotech Firms Getting In On This South Lake Union Action

It's not all tech companies and luxury condos in South Lake Union. Via PSBJ, two biotech real estate companies have big plans for the ever-developing neighborhood as well.

BioMed Realty Trust said they have an agreement in place to buy the block between Roy & Valley streets and Dexter & Eighth avenues north, just a few blocks from Lake Union and one block from Aurora Avenue (pictured above). The site was previously home to industrial dry cleaning and auto repair businesses that required $15M of environmental clean-up by previous owner, Frontier Renewal.

Meanwhile, Alexandria Real Estate Equities has proposed an 11-story office building on Dexter between Republican & Harrison streets. The building will include 254K square-feet of office space, 15K square feet of ground-level commercial space and 349 underground parking stalls. Plans go before the design review board on March 19.
· Biotech real estate companies plan 2 big projects in Seattle's South Lake Union [PSBJ]